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EURUSD consolidating in a narrow range between 1.06695 and 1.05732 for the past five days. The pair failed to make a decisive move ahead of the New Year holiday. Markets eye US Pending home sales and Richmond manufacturing index. It hits an intraday high of 1.06544 and is currently trading around 1.06446.
Technical:
On the higher side, near-term resistance is around 1.0670 and any convincing breach above will drag the pair to the next level of 1.0760/1.0800.
The pair's immediate support is at 1.0570, breaking below targets of 1.0500/1.0435.
Indicator (4-hour chart)
Directional movement index – Bullish
It is good to buy on dips around 1.0570 with SL around 1.0500 for a TP of 1.0720.
